Individuals

The majority of people do not have to complete a tax return i.e. those receiving employment income and some bank interest. However, if your financial affairs are slightly more complicated you may be required to complete and submit a tax return to HM Revenue and Customs, for example, if you are a company director, have self employment income or other sources of untaxed income.

We appreciate that filling in a tax return can be confusing, stressful and frustrating and we are happy to take all of these stresses away. We will complete the form on your behalf and guide you through self assessment ensuring that you are compliant with the submission of your tax return and other relevant forms. We will make sure you are fully aware of forthcoming deadlines to ensure you are not hit by any unwanted penalties.

Income Tax & NI – Personal

With the increasing tax rates and capped personal allowances, it is important that you keep up to date with reliefs that are available to you. Our team can help you reduce your income tax to a minimum by the continual monitoring of changes in tax laws and by updating you with the changes and how this can be applied to your current situation.

Capital Gains Tax

This tax is due on the profits made from the sale of capital asset such as property or shares, for example. We can advise you of the best timing of the sale and look at different reliefs that may be available to keep your tax payable down to a minimum or even reduce the tax to Nil. Planning is key in reducing your CGT liability and we will implement the correct approach for you.

Inheritance Tax

This is a tax that is, unsurprisingly, the least thought about but can cause significant damage to the future wealth of your family. IHT is not payable for estates (including gifts in the last 7 years) of less than £325,000. However, with the rise in property values over the last decade, the tax now affects more families than ever. It is essential that plans are put in place to maintain your family’s wealth and keep IHT to a minimum.

It can be a very complex area but we can give you options, help and advice that will help minimise the tax due.

Stamp Duty Land Tax

We will be able to advise you on the impact SDLT will have on your proposed transaction. We can also review the transaction and advise on any ways to reduce the tax..